GEHC vs GRMN: Correlation
Measured on weekly returns over the past three years, GE HealthCare (GEHC) and Garmin (GRMN) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and GRMN?
Across a 3-year window, the weekly returns of GEHC and GRMN correlate at 0.50, moderate. The past 12 months show a tighter link (0.65) than the 3-year average (0.50). Stretching to 5 years gives 0.48, with an annualized covariance of 564.4 %².
Within GEHC's tracked universe of 52 assets, GRMN comes in at #23 by 3-year correlation. The last year tells two different stories: GRMN led by 27.3 percentage points, -2.2% for GEHC against +25.1% for GRMN. This link changes with the market regime, having swung between -0.22 and 0.70 on a rolling one-year basis.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
GEHC vs GRMN: side by side
| GEHC (GE HealthCare) | GRMN (Garmin) | |
|---|---|---|
| 1-year return | -2.2% | +25.1% |
| 5-year return | n/a | +80.9% |
| Volatility (ann.) | 32.4% | 34.7% |
| Beta vs S&P 500 | 1.22 | 1.06 |
| Max drawdown (3Y) | -37.4% | -28.0% |
| Market cap | $32.7B | $55.9B |
| P/E (trailing) | 16.9 | 29.9 |
| Dividend yield | 0.19% | 1.45% |
| Sector / category | Health Care | Consumer Discretionary |
Year-by-year returns
| Year | GEHC | GRMN |
|---|---|---|
| 2022 | – | -30.2% |
| 2023 | +32.6% | +43.1% |
| 2024 | +1.3% | +63.3% |
| 2025 | +5.1% | -0.1% |
| 2026 | -11.5% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and GRMN good diversifiers for each other?
Only partially. A correlation of 0.50 means GEHC and GRMN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GEHC and GRMN?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.65 over the last year and 0.48 over 5 years.
Is GRMN a good diversifier for GEHC?
Only partially. A correlation of 0.50 means GEHC and GRMN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gehc-vs-grmn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gehc-vs-grmn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · GRMN correlations
